November 29, 2012 / 4:32 AM / 5 years ago

MARKET EYE-BSE above 19,000; Goldman Sachs upgrades Indian stocks

1 Min Read

* The BSE index rises 0.83 percent, crossing 19,000
points for the first time since Oct. 5, while the NSE index
 gains 0.77 percent. 
* Gains track Asian shares that hit three-week highs on Thursday
as sentiment improved after a senior U.S. lawmaker said he was
"optimistic" on reaching a budget deal before the end of the
year to avoid a fiscal crisis. 
* Traders say Moody's stable outlook on India has eased
potential ratings downgrade worries from S&P and Fitch in the
near term.  
* On Thursday Goldman Sachs upgraded Indian stocks to
'overweight' from 'market-weight', citing growth recovery and
inflation moderation ahead. The investment bank pegged December
2013 Nifty target at 6,600 points. 
* Leading the gains were mortgage lender HDFC, up 2.4
percent; ICICI Bank gains 1.4 percent while Tata
Motors is up 3.17 percent.

 (manoj.dharra@thomsonreuters.com)

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